- Your own pool
- Your personal server
- Your personal node
- Your miners = your bitcoins
Why do miners join pools?
Let’s assume that you don’t have enough equipment at your disposal to guarantee that you receive a payment from the network for the block found by your miners, at least for one month. This is not surprising. Since today it will take at least 3.5 thousand years for a miner with a productivity of 1Th to find a block. And in order to find a block every day and get paid for it every day, you need the total capacity of the equipment in the range of 0.5% - 1% of the network. Today, with a total network speed of about 250EH / s-300EH / s, this will require approximately 2EH / s. In modern miners, this is at least 15,000 pieces with a total electricity consumption of such a farm of at least 50 megawatts.
In other words, if you do not have your own farm of 50 megawatts, and you have not invested $ 100 million in the business, then you do not have to think about your own solo mining. No. Of course, you can try mining on your own at your own risk. And maybe you are the lucky one, and you find the block with just one single miner, but it will be luck akin to winning the jackpot in the lottery. At the same time, the cost of such a lottery ticket is the cost of equipment plus hourly expenses for electricity. Agree, the prospect is so-so without any guarantees of return on investment.
That is why miners around the world unite and use specialized web services - pools (from the English pool - a common fund) to reduce the influence of the luck factor and more even and predictable receipt of bitcoins. Users provide the pool with their computing power. In turn, the pool distributes the bitcoins it receives among users, in accordance with the rules set by the pool owner.
Where's the justice?
The pool owners control the computing power of the miners. This means that pool owners control the votes of pool members when updating software. As if the votes of the citizens of any country were controlled, for example, by the banks of this country when adopting new laws regarding life and rules in this country. Thus, in fact, it turns out that a limited circle of persons, consisting of pool owners, controls the entire bitcoin blockchain . And the current state of affairs is far from the idea of decentralization, transparency and fairness that was at the heart of bitcoin.
There is a solution!
The Eä Mining Federation solution removes this bias and enables everyone to become a free, independent and full member of the network, making decisions regarding the changes made to the code and influencing the implementation of changes to the very essence of the development of the network. At the same time, receiving a fair, honest, transparent remuneration for their contribution to the operation and development of the bitcoin network. Every miner gets the right to vote again!
join now!
